Real Estate Investing Power Team Question Series: CPA Certified Public Accountant

Certified Public Accountant – As you build your Real Estate Investing Power Team you may want to have several questions that you ask each potential member. This series that we are starting should help you get on track to ask some questions that are very important to you as each of you build your Real Estate Investing Power Team. So, please feel free to add more questions to each of the upcoming discussion strings to share and help others along the way.

There is not an exact script to interview your CPA, Certified Public Accountant, but here are several questions you can consider asking your CPA:

1. Do they work with many real estate clients?

2. Can they give you an example of how they recently helped save money for a real estate investor?

3. Do they open all year round and not just tax time?

4. Do they use computer programs and email?

5. How do you normally bill or charge for your services?

6. Do you have experience working with multiple business entities such as LLCs?

7. Are you more conservative or aggressive?

8. Do you have experience representing clients with any IRS audits or issues?

9. Who does the work in the CPA office? – All CPAs or a mixture with use of clerks, etc. Does the bill reflect different rates for different experience level of service.

10. How often during the year will we communicate with each other?

11. Are my real estate investments structured properly from a tax perspective for today? How about for the future?

12. Do you own any real estate investments?

13. How can I organize my record keeping to make things easier for me and still be able to provide you all the information you may need on a timely basis?

14. What services do you offer?

15. Will the same staff members always be working my account and whom do I have access to if I need to call?

16. Do you see any conflicts of interest working for me?

17. How long have you been in business?

18. Besides being a CPA what other designations do you hold and do you often attend classes for continuing education?

19. Based on my real estate business, what business structure(s) do you recommend for me? Why?

20. Can you register any of the business structures we may need?

21. How can you assist us in the various phases of real estate investing such as the acquisition of real estate through the sale of our real estate?

22. Do you specialize in tax strategy that is geared towards real estate investing?

23. Can you help me find other power team members such as an attorney, insurance agents, real estate agents, etc.?

There is a difference between a CPA, an Accountant and a Bookkeeper. The Bookkeeper usually does not possess a college degree, the Accountant does possess a College Degree, but the CPA has degrees and has studied extensively a wide array of subject information and has passed a uniform examination within their state.

THIS IS MY BUSINESS!

Remember every day you need to say and repeat…THIS IS MY BUSINESS! Keep working on ways to make your business better. Each day do one thing to get you closer to your dreams because if you do today what others are not willing to do, then tomorrow you can do those things that others are only dreaming about doing!  Follow your passion and make your dreams a reality!  Follow your real estate passion and make a change to make it happen! Live your life in the moment with no regrets! 

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